Filing Flows › Veeva Systems (VEEV) › Q1 FY26
Veeva Systems (VEEV) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jun 2, 2025
Veeva Systems (VEEV) reported revenue of $759M for the first quarter fiscal 2026 (Q1 FY26), +17% from a year earlier and +5% from the quarter before. Operating margin was 30.8%, net earnings $228M (30.1% of revenue).
Veeva Systems, Q1 FY26: revenue $759M (+17% year over year), operating margin 30.8%, net earnings $228M, operating cash flow $877M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $759M | +5% | +17% |
| Gross profit | $585M | +8% | +23% |
| Operating profit | $234M | +24% | +51% |
| Net earnings | $228M | +17% | +41% |
| Operating cash flow | $877M | 13× | +15% |
What changed
Revenue was $759.0M in Q1 FY26, up 17% year over year and up 5% from the previous quarter. R&D Solutions was the largest line at 43% of revenue. R&D Solutions added $56.7M year over year (up 21%), 52% of the total change. Commercial Solutions declined 5%.
Gross margin was 77.1%, up 3.8 points from a year earlier. Operating profit was $233.7M, a 30.8% margin (up 6.9 points year over year). Of the extra revenue versus a year earlier, 72% reached operating profit, above the 24% margin then. Operating expenses grew 9% against revenue growth of 17%. The fastest-growing cost line was Research & development (+13%). Net earnings were $228.2M, up 41% year over year. The effective tax rate was 23.6%. Non-operating items added $65.1M, 22% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $877.2M (up 15% year over year), 384% of net earnings. Non-cash charges added back $112.2M of share-based compensation. Working capital and other items added $536.8M.
Questions
What was Veeva Systems' revenue in the first quarter fiscal 2026?
Veeva Systems (VEEV) reported revenue of $759M for the first quarter fiscal 2026 (Q1 FY26), +17% from a year earlier and +5% from the quarter before.
Was Veeva Systems profitable in the first quarter fiscal 2026?
Operating profit was $234M (30.8% of revenue) and net earnings $228M.
Source: Veeva Systems 10-Q on SEC EDGAR.